FX.co ★ AUD/USD key level of 1.0468 - for January 29, 2013 (Daily Strategy)

The Australian dollar traded this day with an upward trend after several days of a protracted decline. You could notice that on the chart this pair had completely covered the gap it left at the end of December at 1.0382, then resumed its upward movement. Now it is trading at 1.0460 below 1.0468 weekly pivot. A daily close above this level increases the chances that this pair is ready to go up to 1.06. If the pair fails to close this level, it can be considered as a pullback. Sell below this level, with objectives to the daily support of 1.0358. Our outlook remains bullish for the medium term, above 1.03, and above the 200 day moving average periods (blue).

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